Voyager Digital suspends withdrawals, deposits and trading

“This was a tremendously difficult decision, but we believe it is the right one given current market conditions,” CEOCrypto company Voyager Digital said it was"temporarily suspending trading, deposits, withdrawals and loyalty rewards" as of 2 p.m. ET on Friday.a notice of default to hedge fund Three Arrows Capital over failed repayment of a $650 million loan, denominated in BTC and USDC. Voyager is one of a number of crypto industry firms significantly impacted by Three Arrows.

Voyager's update also highlighted $355.72 million in cash held for customers and $168 million in crypto collateral received/held. Of the withdrawals, trading and deposits suspension, CEO Stephen Ehrlich said in a statement:"This decision gives us additional time to continue exploring strategic alternatives with various interested parties while preserving the value of the Voyager platform we have built together. We will provide additional information at the appropriate time."

The firm also said that"[t]o support its exploration of strategic alternatives, the Company has engaged Moelis & Company and The Consello Group as financial advisors, and Kirkland & Ellis LLP as legal advisors." © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

This is a shame

DAMPET!

Great risk management

Danstringer74 Sounds ominous for crypto...

Forced hodlers to the rescue

Let's all laugh at Voyager

This news came out without big impact on Bitcoin price today. Maybe we are close to the bottom.

Voyager au revoir

More like Voyeur Digital… You can only look at your money

lololol

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